Portugal plans to raise up to €1B in auction of 10-year bonds on 8 February
The IGCP said that the OTs to be auctioned next Wednesday mature on 16 July 2032 (that is, about 10 years hence).
The Portuguese Treasury and Debt Management Agency (IGCP) on Friday announced its intention to hold an auction of 10-year Treasury Bonds (OTs) on Wednesday, 8 February, with the aim of raising between €750 million and €1 billion.
In a statement, the IGCP said that the OTs to be auctioned next Wednesday mature on 16 July 2032 (that is, about 10 years hence).
The previous auction of 10-year OTs took place on 12 October last year, when the IGCP placed €651 million at an average yield of 3.230%, with demand totalling €1.166 billion, or 1.79 times the amount placed.
On 5 January, in the first syndicated sale of this year, the IGCP placed €3 billion in 15-year OTs at a yield of 3.689%. That issue had a maturity date of 18 June 2038, and demand was more than €17.9 billion, or almost 5.9 times the amount placed,
The IGCP’s financing programme for 2023 states that Portugal should have a public sector net borrowing requirement this year of €12.4 billion.
According to the programme, the agency plans to issue €19.8 billion of OTs during this year.
